The Bureau of Internal Revenue (BIR) has recently released an order that entitles donated gadgets for public schools to tax incentives. This includes deduction from the gross income of the amount of contribution or donation provided that the Deed of Donation indicates the detail of the items donated including its quantity or number, as well as the amount or value of the donation. It should include the number of expenses being claimed as a deduction and proof or acknowledgement of receipt of the contributed or donated property by the recipient public school. Furthermore, it is also stated that the amount of donation shall be based on the actual cost of personal computers, laptops, tablets, or similar equipment donated. However, if the personal computers, laptops, tablets, or similar equipment donated were already used, the depreciated value of donation shall be taken into consideration. Read more in our articles including "BIR exempts donated gadgets for public school from donor's tax, VAT, and ATRIG" and "Nothing teases Phone (4b) in cryptic teaser video".
The Bureau of Internal Revenue (BIR) has recently released an order that entitles donated gadgets for public schools to tax incentives. This includes deduction from the gross income of the amount of contribution or donation provided that the Deed of Donation indicates the detail of the items donated including its quantity or number, as well as the amount or value of the donation.
It should include the number of expenses being claimed as a deduction and proof or acknowledgement of receipt of the contributed or donated property by the recipient public school. Furthermore, it is also stated that the amount of donation shall be based on the actual cost of personal computers, laptops, tablets, or similar equipment donated. However, if the personal computers, laptops, tablets, or similar equipment donated were already used, the depreciated value of donation shall be taken into consideration.
Our coverage of Donated Gadgets includes: "BIR exempts donated gadgets for public school from donor's tax, VAT, and ATRIG"; "Nothing teases Phone (4b) in cryptic teaser video"; "The OnePlus N6 is coming very soon". Each article provides unique insights and information.